Inhouse May 2007 Edition by Lawlors Property Services

Manor House, Chigwell see page 16

LAWLORS

PROPERTY SERVICES

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inhouse residential sales

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contents 1

Manor House, Chigwell

2/3

Manor Road, Chigwell

4/5

Chigwell

Repton Park

Boningtons

8/9

Loughton

a personal

choice MANOR ROAD, CHIGWELL PRICE GUIDE: ÂŁPOA FREEHOLD EXCLUSIVE AGENT Five Bedroom Detached Residence over looking Chigwell's Golf Course benefiting from the master bedroom having two en-suites and a dressing room, en-suite to bedroom two, an additional bathroom and shower room, five reception rooms, a fitted kitchen/breakfast room, indoor swimming pool with it's own shower room and boiler room. The property also benefits from having an integrated garage, a car port, gated frontage with parking for several vehicles, a terraced garden which has been totally landscaped with mature plants, shrubs, topiary and the most stunning views over looking Chigwell Golf Course

10/11

Foskett, Marr, Gadsby & Head

Devon House

12/13

Woodford

26-29

Lettings

14/15

Vantis Manor House, Chigwell

Bang & Olufsen/Clear Flow

16/17 18-23

Elite Homes

Aromabath/Xavier International

This Months Charity - Haven House

Direct Currency

LAWLORS

PROPERTY SERVICES

A selection of properties currently for sale in Chigwell and surrounding areas.

Gravel Lane £459,995 Freehold

SOLE AGENCY

• Three bedroom detached house • Modern décor • En-suite to the master bedroom plus family bathroom • Ground floor WC

Dacres Gate, Fyfield £799,995 Freehold

SOLE AGENCY

• Five bedroom end-of terraced house • Situated in a beautiful gated development

Retreat Way £345,000 Freehold

• Fully fitted kitchen/breakfast room • Three en-suite bathrooms • Off street parking

Retreat Way £439,995 Freehold

SOLE AGENCY

• Four bedroom mid-terraced house • Able to convert into five bed without planning • Two en-suite bathrooms and family bathroom • Two reception rooms

inhouse may 07

SOLE AGENCY

• Three bedroom mid-terraced house • En-suite to master bedroom plus family bathroom • Fully fitted kitchen/breakfast room • Ground floor WC

Millers Close £279,995 Freehold • Three bedroom mid-terraced house • Fully fitted kitchen/diner • Secluded garden • Off street parking

SOLE AGENCY

Chigwell Rise £995,000 Freehold • Four bedroom detached house • Three reception rooms • Fully fitted kitchen/breakfast room • Southerly aspect garden

SOLE AGENCY

116 High Road, Chigwell, Essex, IG7 5BJ t: 020 8281 0123 f: 020 8281 0222 e: property.chigwell@lawlors.co.uk Sunday Viewing: 07736 23 44 22

Please call 020 8281 0123 for more information on these and many more.

Chigwell Rise £824,995 Freehold SOLE AGENCY

Lee Grove £995,000 Freehold SOLE AGENCY

Montpellier House £449,995 Leasehold

• Four bedroom detached house • Four reception rooms • En-suite to the master bedroom and family bathroom • Garage and off street parking

• Five bedroom detached house • Three reception rooms • Fully fitted kitchen/breakfast room • Southerly aspect garden

• Two bedroom penthouse apartment • Air conditioning • En-suite to the master bedroom and family bathroom • Fully fitted kitchen

Romford Road £699,995 Freehold SOLE AGENCY

Maypole Drive £295,000 Freehold SOLE AGENCY

Dacre Gardens £499,995 Freehold SOLE AGENCY

• • • •

• Three bedroom end-of-terraced house • Ground floor WC and family bathroom • Detached garage

• • • •

Fencepiece Road £724,995 Freehold SOLE AGENCY

Tudor Close £719,995 Freehold SOLE AGENCY

Emmaus Way £560,000 Freehold

• • • •

• Four bedroom detached house • Four reception rooms • En-suite to the master bedroom and family bathroom • Detached garage and off street parking

Seven bedroom semi-detached house Indoor swimming pool complex Three reception rooms Four bathrooms

Newly developed five bedroom detached house Four reception rooms Two en-suite bathrooms and family bathroom Decorated to a high standard

Four bedroom detached house Two reception rooms Fully fitted kitchen/breakfast room Detached garage

SOLE AGENCY

Three bedroom detached property Family bathroom & separate shower room Off street parking No onward chain

may 07 inhouse

LAWLORS

116 High Road, Chigwell, Essex, IG7 5BJ t: 020 8281 0123 f: 020 8281 0222 e: property.chigwell@lawlors.co.uk Sunday Viewing: 07736 23 44 22

PROPERTY SERVICES

A selection of properties currently for sale in Repton Park TC SS

Bay Tree Close £334,995 Freehold SOLE AGENCY

Goldsmith House £425,000 Leasehold

• • • •

• Two bedroom second floor apartment • Fully fitted kitchen • En-suite to the master bedroom • No ongoing chain

• Two bedroom ground floor apartment • Close proximity to Esporta Gym • Two allocated parking spaces • Good decorative order

Regents Drive £549,995 Freehold SOLE AGENCY

Bartholomew House £515,000 Leasehold SOLE AGENCY

Arundle House £449,995 Leasehold

• Three bedroom mid-terraced town house • Two reception rooms • En-suite to the master bedroom • Off street parking & integral garage

• Three bedroom first floor apartment • Immaculately maintained to a high standard • En-suite to the master bedroom • No ongoing chain

• Two bedroom ground floor apartment • En-suite to the master bedroom & family bathroom • Fully fitted kitchen/breakfast room • Allocated parking

The Manor £475,000 Leasehold

Hazel Lane £339,995 Leasehold SOLE AGENCY

Three bedroom end-of-terraced house Fully fitted kitchen Ground floor WC & family bathroom No ongoing chain

• Two bedroom first floor apartment • Fully fitted kitchen • En-suite to the master bedroom • Allocated parking

inhouse may 07

SOLE AGENCY

• Two bedroom first floor apartment • Fully fitted kitchen • En-suite to the master bedroom • Allocated parking

SOLE AGENCY

Wentworth House £369,985 Leasehold

• Three bedroom end-of-terraced house • Two reception rooms • Ground floor cloakroom • No ongoing chain

SOLE AGENCY

Boningtons keeps the exciting world of Antiques and Auctioneering alive in Loughton. There has been an auction house here for 120 years and the site here at Ambrose house was actually closed in 2005 by former owners Ambrose Auctioneers. Fortunately, Boningtons were able to re establish the auctioneering business here in Loughton and continue to grow it by doubling the amount of sales, to holding one every fortnight, as well as a specialist Fine Art sale every 3 months. We have introduced an exciting angle and brought Antiques into the 21st century by opening a world wide visited website, to which we publish catalogues and all sales results after the sales. We have just introduced a unique live bidding experience online, which allows buyers to feel as if they are in the room without actually being there. Lots appear on the computer screen as they are shown in the room and a live audio allows them to experience the excitement of the sale and hear their bids being relayed. This has increased our worldwide buyers to include sales to Brazil, Australia, Japan, New York, California to name but a few. We are constantly seeking to consign more pieces so that we can maximize the contacts that we have acquired. Boningtons offer all forms of probate & house clearance services as well as valuations for insurance, family division, or indeed for sale at auction.

''What a fantastic site!!! My bid was taken instantly and I was informed all the way!! As a dealer, my number one source to find interesting items is the internet. I cannot tell you how thrilled I am and will be buying at every opportunity'' - Antique Dealer, Laguna Beach, California.

Auction results A rare desktop Dunhill lighter was sold for £5058. Also a Diamond Bracelet & Watch Set sold for £2,235 A relative wanted to achieve the maximum price for the owner of these 1920's rare football programmes who was an avid supporter but had no idea they would fetch such a high premium. Sold for £6,025. A Queen Anne chair was rescued from the dump back in July. The Vendor thought the item was worthy of nothing more, until a Boningtons valuer recognised the item to be early 18th century, Sold for £320. A Guild of Handicraft two handed Silver Bowl. The owner of which was most surprised by the result as she hated the item and was about to throw it away. Sold for £2,470 Imagine the costs when this Arts & Crafts sideboard purchased by a buyer from New York, had to be shipped there. It weighed a tonne!! Sold for £2,117. Shock filled the saleroom when this 19th c Staffordshire Elephant sold for 24 times it's estimate at £2,412 Henry Scott (Eng 1911-1966) Sold for £1,235 Adolphus KNELL 1860-1890 Sold for £2,941

tel: 020 8508 4800

•

www.boningtons.com

Ambrose House • Old Station Road • Loughton • Essex IG10 4PE

LAWLORS

PROPERTY SERVICES

A selection of properties currently for sale in Loughton and surrounding areas.

Roding Lane, B/Hill £510,000 Freehold SOLE AGENCY • Three Bedroom approx 1920's Detached • Double glazing & South facing garden approx 120ft • Cloakroom/WC, lounge, dining area • Kitchen, family bathroom & off-street parking

High View Court £309,995 Freehold SOLE AGENCY • Two Bedroom, Second Floor apartment • Views overlooking Chigwell & boasting a balcony

King William Court £210,000 Leasehold SOLE AGENCY

• Garage en-block, UPVC double glazing & entryphone system

• First floor, two bedroom apartment • Meridian Development - offered chain free • Single garage en-bloc & communal grounds • Master with en-suite & additional bathroom

• Lounge, kitchen/breakfast room & bathroom

Fernbank, B/Hill £269,995 Leasehold SOLE AGENCY

Theydon Park Road, T/Bois £625,000 Freehold

• • • •

Top floor, two bedroom apartment Small gated development & communal gardens Short distance to St Johns Primary School Single garage en-bloc & allocated parking

inhouse may 07

Four Bedroom Detached Bungalow Offered chain free with cloakroom/WC Master with en-suite shower room Off-street parking & single garage

SOLE AGENCY

Russell Road, B/Hill £630,000 Freehold • • • •

SOLE AGENCY

Four Bedroom Period Style Mid-Terrace Three receptions, kitchen Master with en-suite & additional family bathroom Rear garden approx 61ft & off-street parking

165 High Road, Loughton, Essex, IG10 4LF t: 020 8502 5588 f: 020 8502 5802 e: property.loughton@lawlors.co.uk Sunday Viewing: 07736 23 44 22

Please call 020 8502 5588 for more information on these and many more.

Station Road £615,000 Freehold

Broadstrood £695,000 Freehold

• Three Bedroom Semi-Detached • Scope for further enlargement, subject to consents • Two receptions, cloakroom/WC, children's play area/reception • Off-street parking, single garage & rear garden approx 120ft

• Four Bedroom Detached character residence • Within the prestigious Goldings Manor Estate • Two conservatories, dining room, lounge & study • Master bedroom with en-suite, off-street parking

• Two Bedroom, Top Floor Apartment • Opportunity for both first time buyers & investors • Single garage en-block, communal gardens allocated parking

Spring Grove £POA Freehold SOLE AGENCY

Theydon Garnon £750,000 Freehold

Theydon Garnon £657,000 Freehold SOLE AGENCY

• Five Bedroom Detached family residence • Lounge, family room, kitchen/morning room • Master bedroom with en-suite, dressing room • Shower room & landscaped garden

• Four Bedroom Detached Barn-Conversion • Semi-rural setting with mature gardens • Three receptions & off-street parking • Master with en-suite & additional bathroom

• Four Bedroom character property in semi-rural location • Kitchen, cloakroom/WC, lounge/diner • Master bedroom suite • Rear garden approx 190ft & off-street parking

The Beacons, £975,000 Freehold

Abridge Road, T/Bois £1.35m Freehold SOLE AGENCY

Alderton Hill, £1.75m Freehold

• Set on the historic Parsonage Farm • Four Bedrooms all with en-suite & luxury fitted kitchen • Galleried bedroom, study, utility/shower room

• NEW BUILD Executive residence • Highest specification throughout • Two master bedroom suites & four further bedrooms • Games room/gym/study, carriage driveway & integral garage

SOLE AGENCY

• Four Bedroom Detached on the Goldings Manor • Three receptions, kitchen & utility room • Shower room, Bedroom four/dressing room & family bathroom • Off-street parking & single garage

SOLE AGENCY

Cedar Close, B/Hill £245,000 Freehold

may 07 inhouse

HOME INFORMATION PACKS (“HIPS”) what are they and how may you be affected? What is a HIP? In simple terms a HIP (Home Information Pack) is a compendium of documentation and information that must be made available by the seller of a residential property with vacant possession. The HIP must comprise an index, an energy performance certificate, a sales statement, prescribed title information (including leasehold management information), a local authority search, replies to enquiries by the local authority and a drainage search. Much of what is required to be contained in the HIP is

documentation

associated

with

the

conveyancing process. The energy performance certificate, however, is a new document. It is a short form of report on the property indicating its overall energy efficiency. The energy performance certificate can only be compiled by a suitably qualified domestic energy assessor.

When is a HIP required? HIP’s must be made available to any prospective buyer of a residential property with vacant possession with effect from 1 June 2007. The HIP must be prepared before the property is first marketed. There is an exception in relation to properties that are already being marketed as at 31 May 2007. In such circumstances so long as the property continues to be marketed there will be no requirement to provide a HIP unless the property remains unsold as at 1 January 2008. A HIP is not required for the sale of a residential property that is tenanted and as a consequence is not being sold with Vacant Possession. Failure to be in a position to provide a HIP renders the “responsible person” (the person marketing the property – typically the estate agent) liable to a fine.

What will a HIP cost? A market has not yet formed but preliminary indications are that the cost of compiling a HIP are likely to be in the region of £400-500 plus VAT in relation to a freehold property.

With effect from 1 June 2007 anybody marketing a residential property for sale with vacant possession is under a legal obligation prior to the first point of marketing to have available for distribution to prospective buyers a Home Information Pack. This article explains the new legal requirements. The cost of a HIP in relation to leasehold properties will inevitably be higher since there is a requirement to provide information that can generally only be made available by managing agents who typically levy charges of between £100-200 for providing this service.

How long will it take to compile a HIP? The Government has acknowledged that certain aspects of the HIP may not be “immediately” available so initially there will be amnesties for certain elements. Specifically searches, leasehold management information and the energy

The cost of compiling a HIP would have been higher had the Government not

performance certificates. These can be added to the HIP at a later date.

withdrawn the requirement for the HIP to contain a Home Condition Report (a short

Even taking account of these concessions, however, there is likely to be a period

form of survey on the property to be sold).

of at least two weeks between instructing your HIP provider to put the pack

In any event the cost of compiling the HIP will need to be met by the seller since

together and sufficient information having been compiled to market the property

the HIP needs to be in place before the property is first marketed.

in compliance with the regulations. Who can compile a HIP?

Whose idea was the HIP? The catalyst for HIP’s was a European Directive requiring all homes to have energy performance assessments.

The short answer is anyone - as this aspect is not regulated at all and a number of commercial organisations have already spawned to exploit the new market. The people best qualified to compile a HIP, however, remain your solicitor since the majority of the contents of the pack is information or documentation which would

The Government (in its wisdom) decided that it would link this requirement to a package of measures which (it believed) would address the cause of delays and

form a part of the normal conveyancing process. Foskett Marr Gadsby & Head will be HIPs providers.

the high number of abortive transactions in the residential property market. The result (in the opinion of most people involved in the residential property

Conclusion

market) is a set of measures which will have the combined effects of delaying the

HIP’s are yet another example of regulations that have the effect of causing delay,

initial marketing of a property, involving the seller in a considerable “up front”

increasing costs and ultimately not achieving their objectives.

expenditure (a significant proportion of which will be of little or no benefit to the prospective buyer) and ultimately failing to address the real issues that cause the delays in the residential property market.

Regulation does come at a cost and this will be borne by the sellers of residential properties In terms of practical advice if you are considering selling your property you will save yourself the cost and consequent delay of preparing a HIP if you market your property before 1 June 2007.

Will the HIP help the buyer?

The effect of the new regulations also means that the logical first port of call if you

To most buyers much of the information contained in the HIP will be too technical

want to sell your property after 1 June 2007 should be your solicitor to put in hand

to be of any practical benefit.

preparation of the HIP in order to avoid delays in marketing your property.

The title information will be useful to the buyer’s solicitor but it is probable that the

Further information on this article and the HIPs we will be providing can be

searches will either be out of date by the time that contracts are exchanged or

obtained from:

unacceptable (as the regulations permit the provision of what are called personal

John Worby - Foskett Marr Gadsby & Head

searches which whilst secured more speedily do not offer the same protection as

181 High Street, Epping, Essex, CM16 4BQ

official searches).

Tel: 01992 563663 Email: johnworby@foskettmarr.co.uk

The provision of a HIP will do nothing to address the most common cause of delays

John Jones - Foskett Marr Gadsby & Head

and abortive transactions in the housing market which is our overriding preference

106/108 High Road, Loughton, Essex, IG10 4HN

to link the sale and purchase giving rise to the chain.

Tel: 020 8418 1302 Email: johnjones@foskettmarr.co.uk

may 07 inhouse

LAWLORS

PROPERTY SERVICES

A selection of properties currently for sale in Woodford Green and surrounding areas.

Denehurst Gardens £840,000 Freehold SOLE AGENCY • Four Bedroom Detached family residence. • Two receptions plus conservatory. • Kitchen\Breakfast room with separate utility room. • Off street parking, garage and rear garden.

Worcester Crescent £829,995 Freehold

SOLE AGENCY

• Stunning Four bedroom Semi detached property. • Close walk to Woodford Central Line Station. • Conservatory.

Horn lane £510,000 Freehold SOLE AGENCY

• En-suite shower room to master bedroom

• Four Bedroom Semi Detached Family Home • Kitchen/Morning room, Through lounge • Downstairs WC • En-suite to bedroom

Azalea Court £199,995 Leasehold

Chapel On the Green £575,000 Leasehold SOLE AGENCY

Eatons Mead £585,000 Freehold

• Exclusive three bedrooms, two bathrooms apartment. • Open planned lounge\kitchen • Suspend ceilings and down spotlighting. • Close proximity to Woodford Central Line Station.

• • • •

• Downstairs WC.

• • • •

A two bedroom first floor apartment Benefiting from two bedrooms separate fitted kitchen Gas central heating

inhouse may 07

SOLE AGENCY

New build five bedroom detached family residence. Good sized family accommodation. Two bathrooms. Two receptions

457 High Road Woodford Green, Essex, IG8 0XE t: 020 8506 0828 f: 020 8506 9101 e: property.woodford@lawlors.co.uk Sunday Viewing: 07736 23 44 22

Please call 020 8506 0828 for more information on these and many more.

Somerset Crt £290,000 Leasehold

SOLE AGENCY

• Two bedroom ground floor apartment • Lounge\diner. • Family bathroom. • Communal gardens and two parking spaces.

The Atrium £350,000 Freehold

Hawthorn Road £350,000 Freehold

• Two bedroom ground floor apartment, offered chain free • Located within close distance to Transport links. • Two bedrooms • Two bathrooms

• • • •

Montalt Road £429,995 Freehold

The Glade £859,995 Freehold

• Three bedroom semi detached property • Located in this peaceful turning in Woodford Green. • Two reception rooms • Garage

• Four bedroom detached mock Tudor family residence • Two receptions • Kitchen\breakfast room, utility room • Good sized full boarded loft room

Darnley Road £575,000 Freehold SOLE AGENCY

Friars Gate Close £599,995 Freehold SOLE AGENCY

• Four bedroom semi detached property • Three receptions • Kitchen and separate utility room • Good sized rear garden

• Well presented four bedroom detached property • Located in the heart of Woodford Green • Two receptions • Kitchen/breakfast room, down stairs WC

SOLE AGENCY

Three bedroom bungalow Lounge\diner, kitchen Family bathroom and separate WC Off street parking

Broomhill Road £859,995 Freehold SOLE AGENCY Open Day 19th May 2007 Exclusively with Lawlors Property Services, Woodford Green. Ring us today on

0208 506 0828 to book your viewing

Glen Rise £565,000 Leasehold

SOLE AGENCY

• Well maintained three bedroom detached family property • Double Garage • Off street parking

SOLE AGENCY

may 07 inhouse

DEAL OR

NO DEAL? TYPE ‘BUSINESSES FOR SALE’ INTO GOOGLE AND SEVERAL THOUSAND OPPORTUNITIES FLASH UP IN SECONDS - SO THERE IS NO SHORTAGE OF ACTIVITY WHEN IT COMES TO THE TRANSFER OF BUSINESSES. THERE CAN BE MANY SOUND – AND SOME NOT SO SOUND – REASONS TO BUY OR SELL A BUSINESS, BUT THE PROCESS CAN ALSO BE RIDDLED WITH POTENTIAL PITFALLS. Here, John McBride, Location Director of local accountants, tax and business advisors, Vantis, explains how companies can be sure they are making the right decision to buy or sell, how to get the best price, and the best way to navigate potential tax implications.

1) WHY BUY OR SELL? The first thing anyone considering buying or selling a business needs to consider is the reason behind the potential acquisition or sale.

THE BUYER If the potential purchase has no firm foundation, there is a risk of squandering assets. Reasons to buy include: • to increase market share more quickly than through organic growth • to introduce economies of scale and reduce overheads • to achieve geographical expansion or increase the product range; • to effect vertical integration of customers or suppliers • to eliminate the competition! Planning is crucial. Buying a company represents a significant cost and ties up senior people in the integration. That said, sometimes unplanned opportunities arise that are simply too good to pass up. For example, if a competitor slips into receivership and becomes available at a favourable price, a snap decision could be called for. Proper planning enables buyers to: • Specify and search for the ideal targets. A buyer with a choice of targets in his sights will be in a stronger bargaining position. Trade bodies, Companies House, the internet and business advisers can all be used to help to identify suitable targets. • Consider whether the buyer has sufficient management capacity to undertake a turnaround • Ensure favourable funding is in place prior to making an approach. This could be via a combination of a bank loan, equity finance and deferred payments to the vendor • Develop an integration plan and realistic projections • Review timings and motives. Acquisitions are risky at the best of times. Would it be better to go for slower but safer organic growth? A good business adviser will assist in this process by researching a short list of companies to approach and carrying out some due diligence on risk, value

inhouse may 07

Vantis - BUSINESS ACQUISITION and potential. This not only saves precious time and stress, but provides a dispassionate and objective viewpoint on what may have become an emotional issue.

THE SELLER The vendor may also have a number of reasons to sell up. It could be to fund retirement, to raise capital for a new business venture or simply because an unexpected but tempting offer has landed on the table. Considerations for the seller include: • Is selling an unplanned reaction to receipt of a tempting offer? If the latter is the case, the seller is unlikely to get the best price and should beware! • Is it the right time to sell? A common error is to sell too late. As a rule of thumb, try to sell a year before you think you should. The best price will come when there is still significant potential left in the company and its business sector. Selling the business should ideally be part of the business plan from the outset • Groom the company towards sale. Ensure any goodwill, which will increase the value of the company, is vested in the company itself, rather than in the owner who will be stepping down • Prepare a realistic projection of the company’s prospects with supporting evidence

THE SELLER The first thing the seller should do is obtain a fair and sensible valuation of the business. Don’t hold back from potential buyers any negative information about the business such as trading issues or hidden liabilities. They will emerge eventually, and declaring them up front puts the seller in a stronger position to retain credibility. Even if a seemingly tempting offer has landed on the table, resist the temptation to jump at it. Research potential buyers, or get an adviser to help you. Remember that over a third of sales are now to the companies’ existing managers, so include an MBO as a possible buyer. To obtain the best price, the seller should never reveal what price they want for the business. It will set a ceiling and the buyer will expect to negotiate down considerably from this level.

3) TAXING TIMES Tax is a complex area and invariably requires specialist advice to minimise liabilities and ensure everything is handled legally and efficiently as possible.

THE BUYER Timing of the setup of a new company to make an acquisition is crucial to maximise tax relief. Managers investing their own money as part of an MBO, can obtain tax breaks on external borrowings (EIS) funding.

2) THE PRICE IS RIGHT? Both buyer and seller will be keen to settle on an attractive price - so what are the negotiating tools each party should use to ensure they get what they want?

If the MBO team is subscribing for shares at less than their market value then timing, again, will be crucial to minimise income tax liabilities they must subscribe their money first before others. Where losses in the business to be sold are to be used against tax, the buyer must ensure that there is no significant change in the company’s trade once the business is taken over.

THE BUYER While getting the best price is important, money is often not the seller’s only motivation. To seal the deal, the buyer needs to research the seller’s ‘hotspots’, i.e. the things that are most important to them. This may include a role as a non-executive director to provide continuity, or ensuring long-serving members of staff are looked after, or a retained equity stake To get the best deal, work quickly and give no reason to the vendors to think that they should go through a wider sale process, ensure the company being bought is not being approached by other potential buyers. Keeping the momentum of the transaction closes out other potential bidders as the vendors are likely to think a bird in the hand is better than two in the bush. The buyer or his adviser must also complete due diligence on the companies under consideration, including management, financial and legal reviews.

Vantis has a vibrant local office in Loughton, with a team of experts who know the area and its businesses well. Vantis is the thirteenth largest firm of accountants, tax and business advisers in the UK and has the specialist skills to advise on all aspects of taxation.

Call David Kirkwood at Vantis in Loughton, on

020 8502 0411 www.vantisplc.com/loughton

Previous Vantis articles can be read on-line at www.lawlors.co.uk/publications.asp The content of this document is intended for general guidance only and, where relevant, represents our understanding of current law and HM Revenue and Customs practice. Action should not be taken without seeking professional advice. No responsibility for loss by any person acting or refraining from action as a result of the material in this document can be accepted and we cannot assume legal liability for any errors or omissions this document may contain. © Vantis, May 2007. All rights reserved. Vantis Group Ltd, a Vantis plc group company, is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities.

THE SELLER The tax position is no less complex for the seller, who needs to consider: • Whether to extract cash from the business prior to sale – which this could include by way of pensions contributions or repayment of director's loans. Or whether to leave the cash in and add the cash to the price to be paid by the buyer. • Utilising existing tax losses pre-sale • What is the preferred consideration – either cash or paper • Warranties and indemnities – any claims under a warranty will be grossed up for tax.

CONCLUSION Buying or selling a business involves many different areas of expertise from securing the most favourable financial banking, conducting due diligence and understanding complex tax issues, to being an ace negotiator, expert valuer and management psychologist! This is notwithstanding the emotional toll that buying or selling exacts. Working with external experts who are focused and determined to strike the best deal for you, while remaining emotionally detached, can pay dividends - financially and emotionally. The key message to buyers and sellers is to plan, plan, plan. Start early - a minimum of six, and preferably 12, months – before you want to start a process to buy or sell. Do your homework, understand why you want to do the deal, keep key staff involved, allow for everything to take longer than planned, be prepared to walk away if the deal isn’t what you want, don’t cut corners, and perhaps above all, make best use of experienced advisers to smooth the course, protect you, and make it happen.

may 07 inhouse

The

Manor A unique combination of three individual residences with a substantial range of out-buildings offered as one complete Estate. Set within landscaped gardens with Paddock and mĂŠnage.

For more information, please contact our Chigwell office on

020 8281 0123

inhouse may 07

House

Gravel Lane, Chigwell

£POA FREEHOLD EXCLUSIVE AGENT

april 07 inhouse

LAWLORS • ELITE HOMES •

CHESTER ROAD, CHIGWELL PRICE GUIDE: £1,495,000 FREEHOLD

Six Bedroom Detached residence offering spacious accommodation located over three floors, carriage driveway with detached garage, off-street parking for numerous vehicles and rear garden in excess of 120ft with fabulous views over farmland. Boasting: utility room, Two cloakroom/WCs, lounge, dining room, morning room, kitchen/breakfast room, TV room, master bedroom with en-suite shower room & dressing room, bedroom two with en-suite & bedroom six with en-suite.

For more information, please contact our Chigwell office on

020 8281 0123

Executive Five Bedroom Detached family residence situated on the South side of Loughton offering panoramic views over open countryside. Lounge, family room, cloakroom/WC, kitchen/morning room, master bedroom with en-suite, bedroom two with en suite dressing room, dressing room, family shower room, landscaped garden and integral garage.

For more information, please contact our Loughton office on

020 8502 5588 18

inhouse may 07

SPRING GROVE LOUGHTON PRICE GUIDE: £995,000 FREEHOLD

CEDARS, MANOR ROAD, CHIGWELL PRICE GUIDE: ÂŁ2,499,999 FREEHOLD One of Chigwell's foremost homes, with far reaching views over Chigwell Golf Course and beyond. With land at such a premium in the area and many new buyers settling for larger homes on smaller plots, it is indeed a rarity to find such a fine home set on a

For more information, please contact our Chigwell office on

020 8281 0123

massive 116 ft frontage. Offering Seven bedrooms and two staircases the property positively demands family occupation. A further possibility available to the property is the potential for a substantial loft, conversion, for which planning permission has been granted.

Five Bedroom

LEE GROVE, CHIGWELL

Detached Property

PRICE GUIDE: ÂŁ995,000 FREEHOLD

situated in a quiet sought after location and benefits from three reception rooms, fully fitted kitchen/breakfast room and a utility room. This property also has a double length integrated garage, Southerly aspect facing garden and off street parking for at least five vehicles and no ongoing chain an early viewing is highly recommended.

For more information, please contact our Chigwell office on

020 8281 0123 april 07 inhouse

LAWLORS • ELITE HOMES •

Five Bedroom, Detached Property with en-suite to master bedroom in addition to a family bathroom and four reception rooms. Also being in close proximity of Chigwell's Central Line Station and local amenities of less than 500 yards.

For more information, please contact our Chigwell office on

020 8281 0123

CHESTER ROAD CHIGWELL PRICE GUIDE: £975,000 FREEHOLD

ELEVEN ACRE RISE, LOUGHTON PRICE GUIDE: £1,100,000 FREEHOLD Five Bedroom 1930's round-bayed Detached residence situated in this quiet cul-de-sac location just off the High Road, Loughton. The property is offered in superb decorative order boasting open-plan living accommodation, contemporary rooms and an approx 120ft rear garden. TV room, lounge, kitchen/breakfast room, reception/therapy room, cloakroom/WC, utility room, master bedroom with en-suite bathroom, family bathroom, bedroom four with en-suite shower room, off-street parking & play house.

For more information, please contact our Loughton office on

020 8502 5588 20

inhouse may 07

COPPERFIELD LODGE, CHIGWELL PRICE GUIDE: ÂŁ1,390,000 FREEHOLD

Three/Four Bedroom Detached Bungalow in a semi-rural stunning location within short walking distance of Chigwell Central Line Station and local amenities of less than 300 yards. This property has the most spectacular views of the surrounding area and benefits from having an en-suite to the master bedroom, family bathroom, fully fitted kitchen/breakfast room, lounge with an open fire, dining room, secluded carriage driveway and two detached garages, one single and one double. With no ongoing chain, viewing are highly recommended.

For more information, please contact our Chigwell office on

020 8281 0123 MONKHAMS DRIVE, WOODFORD GREEN PRICE GUIDE:ÂŁ1,050,000 FREEHOLD

Six Bedroom extended detached family home, on Monkhams Drive, benefits from carriage drive, three reception rooms, two bathroom, on suite, and good size rear garden.

may 07 inhouse

LAWLORS • ELITE HOMES •

THE MANOR, REPTON PARK PRICE GUIDE: £999,995 FREEHOLD Very Rare and Individual, Luxury Two Bedroom Penthouse Apartment. In a bespoke finish with high vaulted ceilings, lounge, utility room, two en-suite bathrooms and two dressing areas.

For more information, please contact our Chigwell office on

020 8281 0123

Stunning Five Bedroom Detached executive residence situated within this much sought-after location. The property is ideally positioned for all major road links, the shopping facilities of both Buckhurst Hill and Loughton and underground links to The City and West End. This property has been renovated to the exacting standards of the current vendors & offers: cloakroom/WC, play room, dining room, lounge, study, kitchen/breakfast room, utility room, master bedroom with en-suite bathroom & dressing room, bedroom two with en-suite bathroom, family bathroom & self-contained annexe accommodation.

For more information, please contact our Loughton office on

020 8502 5588

MANOR COURT, WARREN HALL PRICE GUIDE: £2,250,000 FREEHOLD

inhouse may 07

Four Bedroom

THE BEACONS, LOUGHTON

Detached residence

PRICE GUIDE: ÂŁ975,000 FREEHOLD

situated within the sought after development of Goldings Manor. The property is ideally located for both Epping Forest and access to the M25, M11 and the North Circular. Cloakroom/WC, lounge, TV/family room, dining room, kitchen, utility room, shower room, master bedroom four/dressing room, family bathroom, offstreet parking & single garage.

For more information, please contact our Loughton office on

020 8502 5588

BROADFIELD WAY, BUCKHURST HILL PRICE GUIDE: ÂŁ820,000 FREEHOLD The property has been lovingly maintained by the current owners and offers an impressive lounge with exposed brick fire place, a further reception room and kitchen with dining area. To the first floor the property benefits from four bedrooms with two en suites and a family bathroom.

For more information, please contact our Woodford office on

020 8506 0828 may 07 inhouse

Haven House continues to offer much needed respite and hospice care for children with life limiting and life threatening illnesses. In fact the number of children that we have been able to offer respite care to has doubled in the last 12 months. Six bedrooms provide overnight accommodation for the children and a family suite allows parents and siblings to stay nearby if required. Located in the White House at Mallinson Park, Woodford Green, the hospice enjoys beautiful woodland surroundings ensuring that the children are cared for in a peaceful, happy environment. Running costs are currently ÂŁ1.5M a year and only a limited amount of this is received through statutory funding. Therefore we rely strongly on the local community to support us through donations, events and voluntary work. Our next major event for all the family is the Summer Fete & Craft Fayre taking place at the White House on Sunday, 15th July from 11am to 4pm. Please come along for a fun day out and an opportunity to meet some of our celebrity supporters.

To find out more about Haven House Childrenâ&#x20AC;&#x2122;s Hospice and for a full list of forth-coming events, visit our website at www.havenhouse.org.uk or telephone 020 8506 3630 24

inhouse may 07

LAWLORS • LETTINGS •

165 High Road, Loughton, Essex, IG10 4LF t: 020 8502 3388 f: 020 8502 5802 e: lettings@lawlors.co.uk Sunday Viewing: 07736 23 44 22 Landlord & Tenant 24h Emergency:07950 497 054

PARK GRANGE, CHIGWELL £2400 PCM • AVAILABLE AUGUST

• Furnished to the highest standard

• PART/FULLY FURNISHED

• Secure gated development with private garage

• LUXURY THREE BEDROOM

• Close to Chigwell & Grange Hill Central Line Station

SPLIT LEVEL PENTHOUSE

For more information please contact our Lettings Department on

0208 502 3388 WELLFIELDS, LOUGHTON £2700 PCM • AVAILABLE MID JULY

• Family bathroom plus guest 'wet room'

• UNFURNISHED

• Off Street parking and garage

• FOUR BEDROOMS

• Sky and Broadband ready

For more information please contact our Lettings Department on

0208 502 3388

Please call 020 8502 3388 for more information on these and many more. N IO EW T N UC R ST IN

N IO EW T N UC R ST IN

Manor Road, Chigwell £5,500 pcm

Bracken Drive, Chigwell £5,000 pcm SOLE AGENCY

Manor Road, Chigwell £3,900 pcm SOLE AGENCY

• • • •

AVAILABLE NOW FURNISHED OR UNFURNISHED Nine bedrooms Five en-suite bathrooms. Self contained lower ground floor apartment

AVAILABLE JULY UNFURNISHED Six bedroom Family/TV Room Kitchen/Breakfast Room

AVAILABLE NOW FURNISHED OR PART FURNISHED Five Double Bedrooms with En-Suite to Master Three spacious reception rooms Steam Room Shower

N IO EW T N UC R ST IN

Clarence Gate, Woodford Green £3,750 pcm

Wellfields, Loughton £2,700 pcm SOLE AGENCY

Manor Road, Chigwell £2,400 pcm

• • • •

AVAILABLE NOW UNFURNISHED Five bedrooms Five Bedrooms With En-Suite to Master Three Receptions

AVAILABLE MID JULY UNFURNISHED Four bedrooms Family bathroom plus guest 'wet room' Off Street parking and garage

AVAILABLE AUGUST PART/FULLY FURNISHED Luxury three bedroom penthouse Split level penthouse Furnished to the highest standard

N IO EW T N UC R ST IN

The Gables, Ongar £2,300 pcm

High Road, Buckhurst Hill £1,850 pcm SOLE AGENCY

Regents Drive, Woodford Green £1,650 pcm SOLE AGENCY

• • • •

AVAILABLE NOW PART FURNISHED OR UNFURNISHED Four bedrooms New built with recent improvements Master Bedroom with En-Suite

AVAILABLE NOW FURNISHED OR UNFURNISHED Four bedrooms Large end of terrace Town House situated in quiet location Two Balconies

AVAILABLE NOW UNFURNISHED Two bedrooms Highly desirable location Brand new furnishing never lived in

may 07 inhouse

LAWLORS • LETTINGS •

165 High Road, Loughton, Essex, IG10 4LF t: 020 8502 3388 f: 020 8502 5802 e: lettings@lawlors.co.uk Sunday Viewing: 07736 23 44 22 Landlord & Tenant 24h Emergency:07950 497 054

A selection of properties available to let in West Essex and the surrounding areas. N IO EW T N UC R ST IN

N IO EW T N UC R ST IN

Gravel Lane, Chigwell £1,750 pcm SOLE AGENCY

Kensington House, Repton Park £1,600 pcm SOLE AGENCY

Devonshire House, Repton Park £1,550 pcm SOLE AGENCY

• • • •

AVAILABLE SEPTEMBER FULLY FURNISHED Three bedroom Stunning decoration Detached Garage

AVAILABLE MAY 18TH UNFURNISHED Two/three bedroomed apartment Excellent decorative order Secure development

AVAILABLE MID JUNE UNFURNISHED/PART FURNISHED Two bedroom Victorian high ceilings and ornate coving. There is also 24hr, 7 day concierge service.

N IO EW T N UC R ST IN

High Beech Road, Loughton £1,550 pcm

Broomhill Road, Woodford Green £1,400 pcm

Epping New Road, Buckhurst Hill £1,375 pcm SOLE AGENCY

• • • •

AVAILABLE NOW UNFURNISHED Three bedroom, first floor apartment New fitted luxury Kitchen New fitted Luxury Bathroom

AVAILABLE NOW UNFURNISHED Three bedroom New fitted luxury Kitchen New fitted Luxury Bathroom

AVAILABLE 1ST JUNE UNFURNISHED Three Bedroom Apartment Two Bathrooms Communal Grounds With Tennis Court

N IO EW T N UC R ST IN

Englands Lane, Loughton £1,300 pcm SOLE AGENCY

Sutherland House, Repton Park £1,300 pcm SOLE AGENCY

Lower Queens Road, Buckhurst Hill £1,200 pcm

• • • •

AVAILABLE NOW UNFURNISHED Three bedrooms Family Bathroom 150ft Rear Garden

inhouse may 07

AVAILABLE END MAY UNFURNISHED Two bedrooms Second Floor Apartment 24hr Seven Day Concierge

AVAILABLE NOW UNFURNISHED Two bedroom Purpose Built Balcony with views over communal Grounds

Please call 020 8502 3388 for more information on these and many more. N IO EW T N UC R ST IN

N IO EW T N UC R ST IN

The Avenue, Repton Park £1,200 pcm SOLE AGENCY

Hetton House, Loughton £1,100 pcm SOLE AGENCY

Ludham Close £1,050 pcm SOLE AGENCY

• • • •

AVAILABLE NOW SHORT TERM LET Three bed semi detached Quiet location. Viewing is highly advised

AVAILABLE MAY UNFURNISHED Two bedroom Lounge Kitchen

AVAILABLE NOW UNFURNISHED Two bedroom Modern fitted kitchen Garage

N IO EW T N UC R ST IN

Pyrles Green, Loughton £1,000 pcm SOLE AGENCY

Makinen House, Buckhurst Hill £875-£1200 pcm

Twenty Two, Chingford £1,200 pcm

• • • •

AVAILABLE BEG MAY UNFURNISHED Two bedrooms Set within a Cul-de-sac Off Street Parking

AVAILABLE NOW FURNISHED Two bedrooms Garage En-Bloc Communal Grounds and Parking

AVAILABLE NOW UNFURNISHED Two bedroom show apartment Open Plan Kitchen/Sitting Room Master Bedroom with En-Suite

N IO EW T N UC R ST IN

Chigwell Road, London £800 pcm

High Road, Loughton £750 pcm x2 SOLE AGENCY

Chigwell Road, London £600 pcm x3 SOLE AGENCY

• • • •

AVAILABLE FROM 20TH MAY UNFURNISHED Two bedrooms Lounge Off Street Parking

AVAILABLE NOW, UNFURNISHED STUDIO APARTMENT Brand new bathroom, kitchen and flooring. Double glazing Gas Central Heating

AVAILABLE MAY UNFURNISHED Studio flat Decorated to a high standard Fitted kitchen and bathroom

may 07 inhouse

• • • •

GUTTERS CLEANED WATER PROOFING GLAZING WORK SEAMLESS VALLEYS and much more!

LAWLORS

PROPERTY SERVICES

FREE ESTIMATES

CLEAR FLOW INDUSTRIAL ROOFING Tel: 020 8505 2906 (3 lines) mob: 07968 121082

www.clir.co.uk

www.lawlors.co.uk

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your business For further information on our rates, please call Andrea Paterson

020 8502 5588 or email: inhouse@lawlors.co.uk

inhouse may 07

We are currently recruiting for a Junior Lettings Negotiator/Admin Clerk for our fast expanding letting department. up to 2 years lettings experience Immediate Start. Salary dependant upon experience Please send your CV to lettings@lawlors.co.uk for the attention of James Bearryman

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